Correlation Between Boss Resources and Thor Explorations

Can any of the company-specific risk be diversified away by investing in both Boss Resources and Thor Explorations at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Boss Resources and Thor Explorations into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Boss Resources and Thor Explorations, you can compare the effects of market volatilities on Boss Resources and Thor Explorations and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Boss Resources with a short position of Thor Explorations. Check out your portfolio center. Please also check ongoing floating volatility patterns of Boss Resources and Thor Explorations.

Diversification Opportunities for Boss Resources and Thor Explorations

-0.12

Correlation Coefficient

Boss Resources  Thor Explorations

Good diversification

The 3 months correlation between Boss and Thor is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Boss Resources and Thor Explorations in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thor Explorations and Boss Resources is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Boss Resources are associated (or correlated) with Thor Explorations. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thor Explorations has no effect on the direction of Boss Resources i.e., Boss Resources and Thor Explorations go up and down completely randomly.

Pair Corralation between Boss Resources and Thor Explorations

Assuming the 90 days horizon Boss Resources is expected to under-perform the Thor Explorations. In addition to that, Boss Resources is 1.35 times more volatile than Thor Explorations. It trades about -0.02 of its total potential returns per unit of risk. Thor Explorations is currently generating about 0.02 per unit of volatility. If you would invest  97.00  in Thor Explorations on October 7, 2025 and sell it today you would earn a total of  0.00  from holding Thor Explorations or generate 0.0% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Boss Resources  vs.  Thor Explorations

Boss Resources

Risk-Adjusted Performance

Weakest

Over the last 90 days Boss Resources has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest fragile performance, the Stock's basic indicators remain stable and the current disturbance on Wall Street may also be a sign of long-run gains for the company stockholders.

Thor Explorations

Risk-Adjusted Performance

Weakest

Compared to the overall equity markets, risk-adjusted returns on investments in Thor Explorations are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Thor Explorations may actually be approaching a critical reversion point that can send shares even higher in February 2026.

Pair Trading with Boss Resources and Thor Explorations

The main advantage of trading using opposite Boss Resources and Thor Explorations positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Boss Resources position performs unexpectedly, Thor Explorations can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Thor Explorations will offset losses from the drop in Thor Explorations' long position.

The idea behind Boss Resources and Thor Explorations pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

Check out your portfolio center.

Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.